yStats.com research reveals differing attitudes toward online payment methods across Europe
European online shoppers expect many different payment options from E-Commerce retailers. yStats.com’s report suggests that mixing payment options is necessary to maintain a share in this competitive region. A survey cited in this report reveals that over 50% of online consumers in Germany and nearly one in four digital buyers in the UK have halted their purchase due to a lack of preferred payment method availability.
Bank cards are the preferred choice in countries like the UK, France, as well as Belgium, according to a regional survey cited in yStats.com’s publication. In contrast, a larger double digit share of online consumers in Germany and Italy are more partial to E-Wallet providers like PayPal, in comparison to traditional online bank card payments. What’s more, in the Netherlands, iDEAL maintains the highest share of E-Commerce purchases, whereas in Eastern Europe, online buyers tend to prefer payment on delivery.
The yStats.com research also reveals that only a small share of retail payments in Europe were completed via mobile devices. Mobile wallets such as Apple Pay have not yet gained wide acceptance in places such as Germany, Italy, and the UK. In contrast though, in Sweden in 2016, almost all Internet users were aware of Swish, a mobile payment service, with over half of them utilizing it.
For further information, see: https://www.ystats.com/wp-content/uploads/2017/02/20170101_Product-Brochure-Order-Form_Europe-Online-Payment-Methods_Second-Half-2016.pdf
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.
yStats.com GmbH & Co. KG
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